BATON ROUGE, La., Feb. 26, 2015 /PRNewswire-USNewswire/ -- The
208-unit Renaissance Gateway Apartments in Baton Rouge were dedicated yesterday with a
ceremonial ribbon-cutting event. The $28
million project was assisted by a $500,000 Affordable Housing Program (AHP) grant
from IBERIABANK and the Federal Home Loan Bank of Dallas (FHLB Dallas).
"IBERIABANK has a long history of community partnerships, and we
are especially proud to support the improvements made to
Renaissance Gateway Apartments," said IBERIABANK Baton Rouge
President Ben Marmande. "We believe
we can make significant strides in bettering the communities around
us through an investment that supports safe living conditions and
affordable housing."
The renovated complex, barely recognizable from its original
1970s design, features one- to four-bedroom apartments for very
low- to low-income individuals and families. Pitched roofs and
bright colors replaced flat rooflines and outdated hues. Amenities
include a new swimming pool, community room, playground, laundry
facilities, fitness center, picnic area, computer center, and
on-site management.
AHP grants are awarded through FHLB Dallas member financial
institutions, such as IBERIABANK, to assist in the development of
affordable, owner-occupied and rental housing for very low- to
moderate-income households. Since 1990, FHLB Dallas has awarded
more than $237 million in AHP funds
to assist more than 44,000 individuals and families. FHLB Dallas
has announced the availability of $7.6
million in competitive AHP grant funds for 2015. The
deadline to submit an application is March
17, 2015.
"FHLB Dallas is very pleased to contribute to such a worthwhile
project," said Greg Hettrick, vice
president and director of Community Investment at FHLB Dallas. "It
is a part of our mission to support the communities served by our
members, and the AHP allows us to do that in meaningful ways."
About IBERIABANK
IBERIABANK Corporation is a financial
holding company with 280 combined offices, including 188 bank
branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 23 title insurance offices in
Arkansas and Louisiana, mortgage representatives in 57
locations in 10 states. The company has eight locations with
representatives of IBERIA Wealth
Advisors in five states, and one IBERIA Capital Partners, L.L.C. office in
New Orleans.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of
Dallas is one of 12 district banks
in the FHLBank System created by Congress in 1932. FHLB Dallas,
with total assets of $38 billion as
of December 31, 2014, is a
member-owned cooperative that supports housing and community
development by providing competitively priced advances and other
credit products to approximately 900 members and associated
institutions in Arkansas,
Louisiana, Mississippi, New
Mexico, and Texas.
Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
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SOURCE Federal Home Loan Bank of Dallas